Guys, remember when our Failed Political Press ™ was saying that the midterms were all about inflation and that Republicans were better on the economy?
I imagine that they are shocked to find that they were played, as Tiger Beat on the Potomac (thanks Charlie!) email thingie tells us:
WHO NEEDS A TAX CODE, ANYWAYS?— Rep. Buddy Carter (R-Ga.) told Sarah on Tuesday that his “Fair Tax Act” bill will get its first-ever floor vote this year, a concession he negotiated as part of the negotiations over the votes for McCarthy’s speakership. It was a demand from the 20 holdouts.
The bill would be a bombshell – eliminating the IRS and killing income, payroll, gift, corporate and death taxes to replace them with a nationwide consumption tax on services and goods. But the proposal has no chance of becoming law.
“Death Taxes.” Politico actually said that, that is not part of a quote or it would have been in quotes. Sigh. Anyway, it should be interesting because one of the new House Rules is that all bills have to be scored by the CBO, and you know, eliminating taxes might have an impact on the deficit and their 10-year Balanced Budget horizon.